works against technological innovation that is limitless
encourages convergence
simple international adoption of technologies
decline in the value of physical capital
decreasing human capital returns
The required details about GDP per capita is mentioned below.
GDP per capita convergence is the process by which countries with lower per capita incomes move in the direction of economies with higher incomes per capita by experiencing faster growth rates and leveraging investment, technology, and innovation.A country's Gross Domestic Product (GDP) per capita is calculated by dividing the GDP by the entire population. The world's nations are ranked in the table below by nominal GDP per capita and GDP at purchasing power parity (PPP) per capita. GDP per capita is calculated by dividing the total gross value contributed by all producers who are residents of the economy by the mid-year population, plus any product taxes (less subsidies) that are not taken into account when valuing output. GDP data in local currency at constant prices are used to compute growth.
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(COMPLETE QUESTION)
Sort the arguments below on whether or not they support convergence of GDP per capita or if they work against it. If they have no effect on convergence please leave unplaced.
Works Against Convergence?
Support Convergence?
No Effect?
a)democracy b) unlimited technological innovation c) the world cup d)population growth e) diminishing returns to physical capital f) easy technology adoption across countries g) quantitiy of physical capital in developing countries h) diminishing reutrns to human capital.
